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During the first quarter of the year, job growth, energy-related activities and import/export trade all boasted positive grades, with Houston appearing poised for recovery amid 12 months of 63,600 new jobs.
One of the downtown properties with several new leases is Republic Center, boasting occupancy well above the CBD average, and adjacent to public transportation and the soon-to-be Pacific Plaza Park.
With office cap rates already at all-time lows and institutional investors pushing the limits on rent growth expectations, cap rates this year are expected to hit a wall.
With the addition of the new retail options, Bell Works is continuing its dramatic transformation into what Somerset CEO Ralph Zucker has called a “metroburb”—a self-contained urban environment in a highly livable suburban locale.